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14.11.201908:53 Forex Analysis & Reviews: Control zones USDCAD 11/14/19

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Yesterday, the pair settled above the weekly control zone of 1.3231-1.3213. This confirms the strength of the upward movement. For purchases, a correctional reduction to one of the correctional zones is required. The nearest support is WCZ 1/4 1.3223-1.3220. The target zone is WCZ 1/2 1.3328-1.3319.

The closing of the last trading sessions indicates a constant increase in demand. This makes it possible to hold previously opened purchases.

The alternative model will be developed if the update of yesterday's high causes a strong increase in supply. The close of trading should occur below the WCZ 1/4. This will indicate the transition of the instrument to the accumulation phase, where the main support will be the WCZ 1/2 1.3180-1.3171.

Daily CZ – daily control zone. A zone formed by important data from the futures market that changes several times a year.

Weekly CZ – weekly control zone. The zone formed by the important marks of the futures market, which change several times a year.

Monthly CZ – monthly control zone. A zone that reflects the average volatility over the past year.

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